Ernst&Young's analysis revealed 118 expensive transactions made in the Spanish market of office, hotel, commercial, and logistics real estate.
According to a detailed E&Y analysis, there are 118 pending transactions worth 8.128 billion euros in the Spanish real estate market. This figure includes office, logistics, hotel, and retail facilities.
By asset value, the sector with the largest volume of real estate for sale is the hotel sector for 2.487 billion euros, which is 30.6% of the total amount.
It is followed by the office space subsector, with assets for sale worth 2,195 billion euros, which is 27% of the total amount.
Retail trade (including shopping malls, supermarkets, retail outlets, and retail stores) accounts for 25.5% of the value of assets put up for sale. Logistics has the remaining 16.8%.
Javier Garcia-Mateo, a company partner, said that major hotel sales deals have been under preparation since the beginning of the pandemic, but have not yet been implemented. The relationship between buyers and sellers will be clarified soon.
Speaking about 8,128 billion euros, the transfer of which is under negotiation, one should bear in mind: calculations by various consulting firms show that in the first half of the year, real estate (except residential) was sold in Spain for 3,100 billion euros.
Thanks to coordinated measures to restore the economy, deals worth about 6 billion euros will be concluded in the second half of the year. Of the 118 assets on the market identified by E&Y, more than half (61) are classified as core or "core+". The remaining 57 belong to value-added units or potential assets.
By subsectors, the largest volume of investments to increase the value of the acquired asset falls on the hotel sector: out of 2.487 billion euros, 65% of transactions are made with value-added assets or potential assets. In the case of retail, 35% of investments will be directed to assets requiring capital investments (34%) and logistics (15%).
Madrid's real estate market is currently the most active in Spain, as it will absorb 50% of investments, i.e. a total of 4,044 billion euros. According to Ivan Azinovic, partner of E&Y real estate, by December 2021, activity in the Spanish markets will be more uniform.
